Loading ...Because the 1913 Fed already lost it for good in the summer of 2008. Like Ronald Reagan said long ago, the “liberals are not dumb and stupid, it’s just that everything they know is wrong.” Unfortunately they are clever too, and have been getting their incorrect ways.
Supposedly the Fed has 400 employees. so we can assume most of them are far left liberals like we have in the FBI the Justice Dept etc. The first and the second generation Fed employees after 1913 were obviously more conservative and a lot smarter because they created the minimum wage and maximum hours act of 1937 because of the depression they caused.
Well they failed to maintain a livable wage that goes up with inflation like a car house or slice of pizza. I believe the minimum wage was about 9 loaves per hour at one time.Maybe around 1969 or 1970. Today? Maybe 2-3 loaves per hour? We were a manufacture and export economy with trade and budget surpluses. More independent nation.
Now the opposite. The Fed has been cheating in various ways to keep things going. Including the latest ridiculous low rates and “modern monetary theory”. These 4th liberals running the Fed and the White House are lunatics. On top of all that? The globalization agenda after 1970 made things more complicated and they are dumber.
We never get economic literature like the above from their asshole media either. They are really demented. I heard this morning one of them with a lot of followers flooded child protection services with phone calls because a mother took her child to a Christofer Columbus celebration.